HTC CEO Peter Chou told reporters on Tuesday at a KDDI Corp product launch in Tokyo that the firm is "happy" with its patent settlement with rival Apple Inc, and that media reports which have detailed the agreement are "outrageous", Reuters reports.

After a drawn-out battle between the two rival electronics firms, Apple and HTC announced a 10-year licensing agreement and worldwide patent settlement. No details have been disclosed, although media reports have suggested that HTC may be required to pay Apple between $6 and $8 for every smartphone it manufactures.

Chou, however, disagrees with this estimate, saying:

"I think that these estimates are baseless and very, very wrong. It is a outrageous number, but I'm not going to comment anything on a specific number. I believe we have a very, very happy settlement and a good ending."

HTC does not expect the licensing deal to have any adverse impact on its financial health, and considering its profits have fallen 79 percent year-on-year, it may not be able to afford an additional harsh financial burden.

This isn't the first time this year the media has gotten up HTC's nose. The Next Web reports that the Taiwanese firm is planning to sue Next Magazine for a "groundless" article which suggested chairwoman Cher Wang gave Chou a deadline of six months to boost the firm or lose his job.

However, not every firm is pleased with the licensing deal. According to the Wall Street Journal, Samsung has filed a court motion asking Apple to reveal the terms of the agreement.